Chevy Chase Trust Holdings Inc. lowered its stake in shares of General Mills, Inc. (NYSE:GIS) by 22.1% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 632,606 shares of the company’s stock after selling 179,718 shares during the period. Chevy Chase Trust Holdings Inc. owned 0.11% of General Mills worth $32,743,000 at the end of the most recent quarter.
Several other institutional investors also recently made changes to their positions in GIS. Lenox Wealth Advisors Inc. raised its stake in General Mills by 0.8% in the 2nd quarter. Lenox Wealth Advisors Inc. now owns 1,833 shares of the company’s stock valued at $102,000 after acquiring an additional 15 shares during the period. Cable Hill Partners LLC raised its stake in General Mills by 274.5% in the 3rd quarter. Cable Hill Partners LLC now owns 2,247 shares of the company’s stock valued at $116,000 after acquiring an additional 1,647 shares during the period. Grove Bank & Trust increased its position in General Mills by 322.7% during the 3rd quarter. Grove Bank & Trust now owns 2,460 shares of the company’s stock worth $127,000 after buying an additional 1,878 shares during the period. Tradewinds Capital Management LLC increased its position in General Mills by 127.3% during the 3rd quarter. Tradewinds Capital Management LLC now owns 2,605 shares of the company’s stock worth $135,000 after buying an additional 1,459 shares during the period. Finally, Spectrum Management Group Inc. bought a new position in General Mills during the 3rd quarter worth $135,000. Institutional investors own 72.59% of the company’s stock.
Several research analysts have weighed in on the company. Argus reiterated a “hold” rating on shares of General Mills in a research report on Wednesday, December 27th. BMO Capital Markets reiterated a “neutral” rating on shares of General Mills in a research report on Friday, December 22nd. Susquehanna Bancshares set a $61.00 price objective on General Mills and gave the stock a “hold” rating in a research report on Friday, January 5th. Piper Jaffray Companies upgraded General Mills from an “underweight” rating to a “neutral” rating and set a $63.00 price objective on the stock in a research report on Wednesday, January 3rd. Finally, Credit Suisse Group set a $60.00 target price on General Mills and gave the stock a “hold” rating in a report on Thursday, December 21st. Two investment analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and four have given a buy rating to the stock. The company has an average rating of “Hold” and an average target price of $58.17.
General Mills, Inc. (NYSE GIS) traded down $0.24 during trading on Friday, reaching $57.85. The company’s stock had a trading volume of 2,553,096 shares, compared to its average volume of 4,180,000. The company has a quick ratio of 0.53, a current ratio of 0.81 and a debt-to-equity ratio of 1.79. The company has a market capitalization of $32,920.00, a P/E ratio of 21.19, a PEG ratio of 2.56 and a beta of 0.66. General Mills, Inc. has a 1 year low of $49.65 and a 1 year high of $63.73.
General Mills (NYSE:GIS) last issued its quarterly earnings data on Wednesday, December 20th. The company reported $0.82 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.82. General Mills had a return on equity of 38.89% and a net margin of 10.29%. The company had revenue of $4.20 billion during the quarter, compared to the consensus estimate of $4.08 billion. During the same period last year, the company earned $0.85 earnings per share. The firm’s revenue was up 2.1% compared to the same quarter last year. equities research analysts forecast that General Mills, Inc. will post 3.12 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, February 1st. Stockholders of record on Wednesday, January 10th will be given a dividend of $0.49 per share. The ex-dividend date is Tuesday, January 9th. This represents a $1.96 dividend on an annualized basis and a dividend yield of 3.39%. General Mills’s dividend payout ratio (DPR) is 71.79%.
In other news, insider Bethany C. Quam sold 8,712 shares of the firm’s stock in a transaction dated Tuesday, January 9th. The stock was sold at an average price of $59.40, for a total transaction of $517,492.80. Following the completion of the transaction, the insider now directly owns 36,089 shares in the company, valued at $2,143,686.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.40% of the stock is owned by company insiders.
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About General Mills
General Mills, Inc is a manufacturer and marketer of branded consumer foods sold through retail stores. The Company is a supplier of branded and unbranded food products to the North American foodservice and commercial baking industries. The Company has three segments: U.S. Retail, International, and Convenience Stores and Foodservice.
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